Res99 RD-99-30 - Laserfiche WebLink

Browse Search

Before commencement of demolition, construction or development of any buildings, structures or other works of improvement upon any portion of the IAC Project Site, IAC shall, at its own expense, secure or cause to be secured any and all permits which may be required by the City or any other govemmental agency having jurisdiction over such demolition, construction, development or work. The Agency will use its best efforts to assist IAC in processing applications and securing the Project Approvals and other govemmental agencies' authorizations and permits. §504 Cost of Construction The cost of developing the IAC Project and constructing all improvements thereon shall be borne by IAC, except for work expressly set forth in this Agreement or any agreement with Shea or any other party to be performed or paid for by the Agency, the City, Shea or another P�Y• §505 Construction Schedule After the conveyance of title or possession in accordance with this Agreement and the granting of all permits and approvals as contemplated in this Agreement, IAC shall commence development of the IAC Project Site in accordance with the Schedule of Performance or such extension of said times as may be granted by the Agency in accordance with this Agreement. The Schedule of Performance may be revised subject to reasonable extensions of time as may be granted by the Agency or established pursuant to a Meet and Confer. Except as may be set forth in the Schedule of Performance, there is no requirement that IAC initiate or complete development of the IAC Project or any Project Phase within any particulaz period. IAC shall be able to develop in accordance with IAC's time schedules as such schedules may exist from time to time. The parties have made certain assumptions for CEQA analysis as to the rate and phasing of the IAC Project. However, the parties understand that IAC's time schedules depend upon numerous factors which aze not within the conuol of IAC such as mazket conditions and rate of absorption, and similaz factors. During the period of construction, but not more frequently than once a month, IAC shali submit to the Agency a written progress repoR of the construction when and as requested by the Agency. Such requirement shall be deemed satisfied upon submittal by IAC of a copy of its report to the construction lender. §506 Insurance and Indemnification If this Agreement terminates and IAC shall not have made an Election to Proceed in accordance with Section 304(D), then, in such event, if any third party commences a lawsuit or other legal proceeding against the Agency wherein claims or demands aze made directly relating to this Agreement and the activities of the Agency hereunder performed within the scope of this Agreement during the period prior to the delivery by IAC of the Election to Proceed in connection with the potential acquisition of the Acquisition Parcels, IAC shall defend, indemnify and hold hannless the Agency and its governing body, officers, employees, agents and attomeys 23 9627�.8397625 , .